topic S-Corp with no income in Get your taxes done using TurboTax

S-Corp with no income

j2invests — Mon, 23 Feb 2026 12:07:42 GMT

I started an S-Corp in Dec 22 and had no income/expenses for that month. I have 2 other businesses that my CPA will file for but was hoping since I don't have anything to report I could do it myself. Can I or should I use TurboTax to file that S-Corp?

Re: S-Corp with no income

Anonymous_ — Sun, 19 Feb 2023 20:02:51 GMT

The S corporation is required to file a return (1120-S) regardless of whether there are any income or expenses.

See https://www.irs.gov/instructions/i1120s#en_US_2021_publink11515kd0e292

You can use TurboTax Business to file an 1120-S, but it may be overkill for a return with zero income, expenses, and no depreciable assets.

See https://turbotax.intuit.com/small-business-taxes

Re: S-Corp with no income

j2invests — Sun, 19 Feb 2023 20:24:37 GMT

That is my point. I know I need to file, just not sure the most cost effective way to do it. I really wish I wouldn't have agreed to start the business until 2023. But, what's done is done. I guess I'll just pay the $180 and call it a learning lesson.

Re: S-Corp with no income

Anonymous_ — Sun, 19 Feb 2023 20:27:39 GMT

Yes, but at least you will get a head start on the 2023 return since you will be able to transfer in all of the information you entered from your 2022 1120-S.